SEC issues subpoenas to “scores” of ICOs in major clampdown

The US Securities and Exchange Commission (SEC) has ratcheted up intervention in the booming initial coin offering space by issuing a flurry of subpoenas to promoters and their advisers.
According to the Wall Street Journal “scores” of subpoenas have been issued in the most concerted effort to date to safeguard investors in an area lacking in regulation. The news indicates that the SEC is making good on addressing its concerns about the Wild West nature of the new fundraising approach that has become a favourite vehicle for blockchain projects.
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